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Oct 31, 2009 at 12:01 AMOct 31, 2009 at 9:44 AM

DETROIT 2 more unions reject Ford's cost-cutting deal

Ford Motor Co.'s hopes for a cost-cutting labor agreement grew dimmer, with two more United Auto Workers locals in Chicago rejecting the changes. Key local unions in Dearborn, Mich., and Louisville, Ky., were voting late yesterday.

DETROIT 2 more unions reject Ford's cost-cutting deal

Ford Motor Co.'s hopes for a cost-cutting labor agreement grew dimmer, with two more United Auto Workers locals in Chicago rejecting the changes. Key local unions in Dearborn, Mich., and Louisville, Ky., were voting late yesterday.

Seventy-five percent of workers voting at Ford's Chicago Assembly Plant rejected the deal late Thursday, according to a member of the bargaining committee. Workers at the Chicago Stamping Plant voted 80 percent to reject the changes. Those plants have nearly 2,000 workers.

Ford has 41,000 workers represented by the UAW.

Exact tallies weren't available, but at least 10 UAW locals representing about 14,500 workers have voted against the deal. Only about four locals with a total of 7,000 members favored the pact.

In another development, the Canadian Auto Workers union reached a deal with Ford Canada that will lower the company's operating costs and guarantee two new vehicles for its major Canadian assembly plant, the head of the union said yesterday. Ken Lewenza said that Ford will proceed with plans to close one of its Ontario plants employing 1,600 workers, which makes larger cars.

WASHINGTON BP hit with record fine for not fixing safety hazards

The Occupational Safety and Health Administration imposed a record $87 million fine yesterday against oil giant BP PLC for not fixing safety hazards after a 2005 explosion that killed 15 workers at its Texas City, Texas, refinery.

The fine, the largest in OSHA's history, comes after a 6-month inspection revealed hundreds of violations of a 2005 settlement agreement to repair hazards at the refinery.

BP officials formally contested the fine, saying that the company had complied.

NEW YORK Tally of failed U.S. banks rises by nine, to 115

Regulators have shut down nine banks, including California National Bank.

The move Friday brings the number of failed U.S. banks this year to 115 as the still-weak economy produces a stream of loan defaults.

The banks are mostly in the West and had combined assets of $19.4 billion at the end of September.

The Federal Deposit Insurance Corporation says U.S. Bank in Minneapolis agreed to assume the deposits and most of the assets of the banks.

-- From staff, wire reports

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